Wolverine Asset Management LLC Acquires New Position in Parsons Co. (NYSE:PSN)

Wolverine Asset Management LLC acquired a new stake in shares of Parsons Co. (NYSE:PSN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,000 shares of the company’s stock, valued at approximately $3,600,000.

Other institutional investors have also modified their holdings of the company. Tanglewood Legacy Advisors LLC bought a new position in Parsons in the 2nd quarter worth about $44,000. TFO Wealth Partners LLC grew its position in Parsons by 18,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 732 shares of the company’s stock worth $46,000 after purchasing an additional 728 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Parsons in the 1st quarter worth about $62,000. Psagot Value Holdings Ltd. Israel boosted its holdings in shares of Parsons by 700.0% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,112 shares of the company’s stock valued at $70,000 after acquiring an additional 973 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Parsons by 23.6% in the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $86,000 after acquiring an additional 199 shares in the last quarter. Institutional investors own 98.02% of the company’s stock.

Parsons Stock Down 2.1 %

Shares of NYSE:PSN opened at $93.48 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market cap of $9.93 billion, a PE ratio of 519.36, a price-to-earnings-growth ratio of 2.11 and a beta of 0.81. Parsons Co. has a 52 week low of $53.56 and a 52 week high of $95.88. The firm has a 50 day simple moving average of $85.90 and a 200 day simple moving average of $81.53.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.59 by $0.18. Parsons had a net margin of 0.89% and a return on equity of 12.09%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.53 billion. As a group, research analysts expect that Parsons Co. will post 2.81 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PSN shares. Benchmark increased their price objective on shares of Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their price objective on shares of Parsons from $95.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Truist Financial reiterated a “buy” rating and issued a $108.00 price objective (up from $100.00) on shares of Parsons in a report on Thursday, August 1st. KeyCorp increased their price objective on shares of Parsons from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Robert W. Baird increased their target price on shares of Parsons from $89.00 to $103.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $94.67.

Parsons Company Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.